Hungarian automotive industry: week 36
Suzuki Vitara awarded, engineer training launched in Szombathely. Exedy Dynax develops in Tatabánya and 100 new jobs created in Lenti.
Manufacturers
Launched in March this year, Magyar Suzuki Corporation’s new model, the Vitara, has been honoured with the prestigious Hungarian Quality Product Award, and has also won the Excellence in Innovation Award in the same contest.
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| Vitara honoured with Hungarian Quality Award |
According to media sources, Rába has not yet begun manufacturing the 35 midi buses that will be entering service at the Buda Castle. A tendering contract on the supply of new vehicles was signed by Budapest transport company BKK and Orangeways.
Suppliers
Japan-based automotive parts manufacturer Exedy Dynax has expanded its Tatabánya plant with a HUF 7.2 billion investment and created 130 new jobs.
Prevent Premium & Interior Kft., a German-owned supplier of interior upholstery for premium auto makers, announced plans last week to increase its staff by 100 people in the next six months.
An investment promising to create 100 new jobs at Log Valve Kft. will soon be completed, the company announced last week.
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| Exedy creates new jobs in Tatabánya |
Applications are still open for the Werner von Siemens Efficiency Award. The aim of Siemens Zrt. is to collect and present projects and initiatives that have effectively increased efficiency at local organizations.
Service providers
Hungarian companies are also expected to participate in the Horizon 2020 programme, a European Union framework programme with the highest budget yet in the history of the EU, following an announcement that Nemzeti Mobilfizetési Zrt. is among the likely candidates in intelligent transport system projects.
Education
Engineer training launched in Szombathely. 55 of 80 first-year students will continue their studies in a dual educational programme, spending half their higher educational training at large companies after signing a study contract. See our gallery from the opening ceremony.
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| Mechanical engineering course launched in Szombathely |
Economy
In Q2 this year, the volume of investments grew by 5.7% after a decline in Q1 2015. According to seasonally adjusted data, investments in the national economy increased by 1.7% from the previous quarter.
The volume of gross domestic product increased by 2.7% in Hungary in Q2 2015 compared to the corresponding period of the previous year, reported the Hungarian Central Statistical Office (KSH).
According to seasonally and calendar effects adjusted data published by KSH, economic performance in Q2 2015 was up by 2.5% compared to the corresponding quarter of the previous year and by 0.5% compared to the previous quarter.
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| HUF vs. EUR - week 36. Source: portfolio.hu |
The Hungarian forint saw a significant surge mid-week, only to return to where it started the week at 314 against the euro by Friday afternoon.
